DULUTH, MN (KDAL) - Duluth was named in the National Association of Home Builders (NAHB) in its NAHB/First American Improving Markets Index (IMI). The IMI identifies areas that have shown improvement from their lows in housing permits, employment, and house prices for six consecutive months. “The fact that Duluth is one of nearly 100 markets now on the improving list shows that the momentum is building for a housing recovery and that more buyers and sellers are starting to feel confident enough to return to the market,” said Jim Wallner, president of the Arrowhead Builders Association and owner of RWC Construction, Inc. The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. The February index adds some metropolitan areas that have been particularly weak; this is due to the fact that the IMI measures improvement from a bottom, and some of the hardest hit markets are showing signs of coming off of extreme lows. Keeping this in mind, notable new entrants to list in February include Miami, Fla; Boston; Detroit; Kansas City, Mo.; Portland, Ore.; Memphis, Tenn.; and Salt Lake City.
